Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulation 3 (1), Regulation 4 read with Regulation 15 (1) and Regulation ....
Awaiting price reaction for this filing.
Mr. Sachidanand Hariram Upadhyay is acquiring 49.01% stake (4,90,051 shares) in Lords Mark India Ltd (BSE: 501261) from existing promoter E'l Dorado Guarantee Ltd at Rs. 30 per share, through a Share Purchase Agreement dated June 3, 2025, for a total of about Rs. 147.02 lacs. This triggers a mandatory open offer for an additional 26% (up to 2,60,000 shares) at the same Rs. 30 per share price, with total consideration of Rs. 78 lacs to be paid entirely in cash. After the deal, the acquirer will be classified as the new promoter of the company, replacing the current promoter group. The shares are infrequently traded on BSE, and a detailed public statement will be published by June 10, 2025.
Public shareholders get a cash exit opportunity at Rs. 30 per share via the open offer, which is meaningful since the stock is thinly traded. There is a change of control and promoter at the company, which could lead to shifts in strategy or governance going forward.